October 27, 2011

Loan Star To Exit Stake In Golf-course Operator

PGM Holdings K.K., a listed major golf course operator, announced that PGM approved a tender offer by Heiwa Corp., a listed manufacturer of amusement machines. The TOB price is set at 52,000 yen, a 30.31% premium over a 3 month average. Its largest shareholder, Lone Star Fund, ageed to sell its entire stake(61%) in PGM. The US investment fund took it public in 2005.

October 25, 2011

Yamato Material To Go Private Via MBO

Yamato Material Co., Ltd., a listed supplier of a wide variety of containers and materials, announced that Yamato approved a tender offer by an investment vehicle set up by the CEO and other founding family members. The TOB price is set at 585 yen, a 41.62% premium over a 3-month average. Mizuho Bank is ready to provide up to about 2.4 billion yen in financing. Yamato will be delisted upon the successful outcome of the deal.

October 24, 2011

Nomura To Sell Stake In Skylark To Bain Capital

Nomura Holding. Inc., an one of major securities group in Japan, announced that Nomura Principal Finance Co., Ltd., an investment unit of Nomura group, and NPF-Harmony, a subsidiary of Nomura Principal, have agreed with Bain Capital Partners, a global buyout shop, to sell their entire stake in Skylark Co., Ltd., a family-restaurant chain operator. Nomura plans to sell 77.76 % of Skylark's outstanding common shares for 100 billion yen and its entire holdings of preferred shares for 28 billion yen. Skylark was delisted via MBO with Nomura in 2006.

October 21, 2011

Stockholding Ratio At Corp Pension Funds Hits Record Low

The ratio of Japanese stocks held by major domestic corporate pension funds stood at a record low 16.8% at the end of August, less than half the December 1999 peak of 36.6%, accordinf to the Nikkei. Since the combined ratio for domestic bonds and general-account assets with guaranteed interest rates increased 1.5% to a record high 49%, many pension funds appear to have shifted their assets to the relatively stable bond market to escape falling share prices at home and abroad.

October 12, 2011

Major Ad. Company To Launch Tender Offer For Outsourcing Company

Hakuhodo Inc., a listed major advertising company, announced that the ad. agency will launch a tender offer for shares of Backs Group Inc., a listed retail-oriented outsourcing company. The TOB price is set at 2,500 yen, a 49.53% premium over a 3 month average. The CEO(the largest shareholder) and his group approved the offer. Hakuhodo will beef up the marketing solution business through this acquisition.

October 10, 2011

PE-backed Real Estate AM To Delist via Tender Offer

MK Capital Management Co., a listed Unison-backed real estate asset management company, announced that MK Capital approved the tender offer from an investment vechile by Unison Capital group, a major private equity firm. The TOB price is set at 35,000 yen, a 68% premium over a 3 moth average. MK will be delisted upon the successful conclusion of this deal. Unison Capital group previously made a tender offer in Feburary 2010 and became the largest shareholder(61.3%).

October 07, 2011

Software Developer To Acquire Fukuoka-based Peer

Mamezou OS Holdings Co., Ltd., a listed software developer, announced Mamezou will make a tender offer for shares of JM Technology Inc., a Fukuoka-based technology solution company. JM Technology approved the offer. The TOB price is set at 70,000 yen, a 127.56% premium over a 3 month average. Mamezou will expand the business area geographically as well as get into the semiconductor business through this transaction. JM Technology provides semiconductor engineering services and FA solution services in addition to the software development.

October 06, 2011

Hitachi Group To Acquire South African Data Center Provider

Hitachi Ltd, a leading global electrical company, announced that its wholly owned subsidary, Hitachi Data System Co. acquire Shoden Date Systems, a leading provider of date center technology solutions in South Africa and across the sub-Saharan African continent. The California-based IT solution provider will be able to serve its growing customer base throughout the region better with Shoden.

October 03, 2011

Sumitomo Mitsui Bank To Tender Offer For Promise

Sumitomo Mitsui Finanacial Group, Inc. (SMFG), one of the major banking groups, announced that Sumitomo Mitsui Banking Corporation (SMBC), SMFG's banking unit, made a tender offer for shares of Promise Co., Ltd., a listed consumer loan company, and subscribed the shares issued by Promise through a Third-Party Allotment. The tender offer price is set at 780 yen, a 29.6% premium over a 3-month average. As SMBC is the largest shareholder (21%) in Promise, SMFG will make Promise a wholly-owned subsidiary through these transactions.